Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Where:
(a) a State and the person or persons who produce market petroleum from a production unit have entered into a relevant resource rent royalty agreement providing for a royalty in respect of market petroleum produced from that unit on or after 1 July in a year after 1984 specified in the agreement; and
(b) the Commonwealth and the State have entered into a relevant revenue - sharing agreement in respect of royalty payable under that relevant resource rent royalty agreement;
the Minister shall give the Minister administering the Excise Tariff Act 1921 (in this section referred to as the "Excise Minister") a certificate in writing stating that it is appropriate that prescribed petroleum produced from that production source on or after that 1 July should be exempt from duties of Excise.
(2) Where the Minister gives the Excise Minister a certificate under subsection ( 1) in respect of a production source, the Excise Minister shall, by notice in writing published in the Gazette , declare that prescribed petroleum produced from that source, other than:
(a) prescribed petroleum produced before the 1 July specified in the certificate; or
(b) prescribed petroleum produced after the revocation of the declaration under this subsection in respect of that source;
is exempt from duties of Excise, and, where the Excise Minister publishes that notice, that declaration has effect accordingly.
(3) Where:
(a) a declaration under subsection ( 2) in respect of a production source is in force; and
(b) either the relevant resource rent royalty agreement or the relevant revenue - sharing agreement because of which that declaration has been made ceases to be in force;
the Minister shall give the Excise Minister a certificate stating that the declaration should be revoked.
(4) Where the Minister gives the Excise Minister a certificate under subsection ( 3) in respect of a declaration, the Excise Minister shall, by notice in writing published in the Gazette , revoke that declaration.